FX.co ★ Gold Prices Mixed Ahead Of Fed, BoE Meetings

Gold prices were mixed on Tuesday and the dollar paused near 20-year highs as investors await this week's Fed and BoE meetings.

Spot gold edged up 0.1 percent to $1,821.34 per ounce as U.S. Treasury yields steadied at multi-year highs following the worst selloff in years. U.S. gold futures were down half a percent at $1,822.35.

Market participants largely expect a 50-basis-point hike by the Federal Reserve on Wednesday.

Goldman Sachs and JPMorgan Chase & Co. said they expect the Fed to raise interest rates by 75 basis points at their meeting on Wednesday.

As recession worries grow, the messaging around future guidance is going to be key to determine market reactions.

The Bank of England is seen raising interest rates by a modest 25 basis points on Thursday despite Monday's data showing a contraction in the country's GDP in April.